New Delhi, April 11
The Supreme Court today restrained Bharti Airtel from offering 3G roaming services to new customers in Haryana, Kolkata, Madhya Pradesh, Gujarat, Maharashtra, Uttar Pradesh East and Kerala.

A Bench headed by Chief Justice Altamas passed the interim order on Airtel’s appeal against a Delhi High Court order endorsing the telecom department’s decision to hold Airtel’s 3G roaming pact as illegal.

At the same time, the SC asked the government not to take any coercive steps against Airtel for providing 3G services in violation of the high court verdict.

On March 15, the DoT had issued a notification restraining Airtel from providing 3G intra-circle roaming facilities in seven circles where it did not have the spectrum and also slapping a penalty of Rs 350 crore (Rs 50 crore per circle) for alleged violation of the licence terms and conditions.

A single judge Bench of the high court stayed the notification on March 18. However, on a plea by Reliance, a division Bench of the high court set aside this order, prompting Airtel to approach the Supreme Court.

A Bench comprising Chief Justice Altamas Kabir and Justice Vikramajit Sen issued notices to the Centre and Reliance Communications Ltd and sought their response within two weeks on the petition filed by Bharti Airtel challenging the Delhi High Court order giving its nod to DoT's decision to hold the 3G roaming pact of the telecom major illegal.

The apex court said thereafter the respondents will file rejoinder within two weeks and posted the matter for hearing on May 9.

Airtel in its plea had contended that the division Bench of the high court was wrong in entertaining the plea of Reliance as it was not a party before the single judge.

However, counsel appearing for Reliance, had submitted before the apex court that what Airtel has been doing for two years was completely illegal as it did not have a licence for 3G in seven circles, including Kolkata, where it was selling the 'SIM' cards for 3G mobile connections.

Reliance in its plea before the high court had sought directions to "declare and hold 3G intra-circle roaming agreements entered into between Bharti and other service providers as illegal and in violation of Article 14, 19 and 21 of the Constitution."

"It (Reliance) has paid thousands of crores for the 3G spectrum and Bharti is using it for free in as many as seven circles, therefore, disrupting the level-playing field.

If this is allowed, then there is no requirement for any licensee to participate and purchase 3G spectrum in auction.

This defeats the purpose of auction," the plea said.

New Delhi, April 11
Honda Cars India (HCIL) today launched the much-awaited diesel car, Amaze, with an aggressive entry price of Rs 4.99 lakh for petrol and Rs 5.99 lakh for diesel variant (ex-showroom Delhi).

The car will compete mainly with Maruti's Dzire, Tata Manza, General Motors’ Sail and Toyota Etios.

The Amaze sports a 1200 cc petrol engine and an all-new 1500 cc diesel engine.

India is the first country where Honda has launched the Amaze with latest i-DTEC diesel engine technology. It has the best in class mileage of 25.8 kmpl.

This is the first diesel car from Honda in India and the company plans to drive in new models in other categories in the coming time, including a competitor to Maruti Alto.

The petrol version of the car is equipped with 1.2 L, i-VTEC engine, which has been used in its small car Brio. The price range for petrol version is between Rs 4.99 lakh and goes up to Rs 7.50 lakh (ex-showroom, Delhi).

The Amaze has been developed at Honda Research and Development Asia Pacific, located in Bangkok, Thailand, following market surveys in India on people's driving needs and lifestyles.

"With the launch of Honda Amaze, we are looking towards newer horizons in the Indian market. Amaze will be a game changer for us and over the next few years we will look to increase our operating universe in India to around 50 per cent," Hironori Kanayama, president and CEO, HCIL, said.

"The Amaze is our most strategic model in the Indian market and has been developed with strong focus on Indian requirements," company’s managing officer Yoshiyuki Matsumoto said.

The company is also offering Honda Care maintenance package for 2 years or 40,000 km (whichever is earlier) for Rs 9,996 for petrol version and Rs 15,375 for diesel variant.

New Delhi, April 11
Gold prices plunged to over 10-month low by losing Rs 505 to Rs 29,470 per 10 gram in the Capital today on frantic selling by stockists amid restricted buying, driven by a steep fall in overseas markets.

The current fall in gold drove down the prices to a level last seen on May 30 last year as the metal tumbled in New York by $25.70 to $1,559.30 an ounce on fears the US Federal Reserve might scale back stimulus.

Trading sentiment turned extremely bearish on drying up of seasonal demand and stockists selling triggered by a steep fall in precious metal prices in global markets.— PTI

Mumbai, April 10
The Bombay Stock Exchange will shift as many as 104 stocks to the restricted trade category from tomorrow, as a measure to ensure market safety. The scrips which would be shifted to the trade-to-trade segment include that of Triveni Engineering & Industries, Sterling Biotech, Khaitan Electricals and Uttam Sugar Mills.

In the trade-to-trade segment or the 'T' group category, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

The move is part of the preventive surveillance measure to ensure the market safety and to safeguard the interest of investors and has been taken in consultation with market regulator SEBI, the BSE said.

BSE has asked the trading members to take adequate precaution while trading in these scrips "as the settlement will be done on trade-to-trade basis and no netting off positions will be allowed".

However, it said "the transfer of scrips for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company".

"...this is a temporary measure and will be periodically reviewed depending on the market conditions," the BSE added.

According to the bourse, the stocks would attract a low circuit filter - the maximum permissible limit within which the share price can move - of up to 5 per cent. — PTI

New Delhi, April 11
Facing a possible auction of his personal and company assets by SEBI, a defiant Sahara chief Subrata Roy says he feels victimised by a chain-reaction of events over the years that began with a political vendetta in 2005, followed by regulatory clampdowns by the RBI and SEBI.

"It started as a political vendetta against us in 2005, and thereafter it became a chain reaction. First RBI took actions against us in 2008 and thereafter SEBI clamped down on our businesses," said head of diversified conglomerate Sahara group that has presence in entertainment, real estate, financial services and hospitality businesses, among others.

Roy said the other businesses of Sahara group were getting affected because of SEBI’s actions, but he was ready for a "fight to finish" and confident of the matters being resolved in due course.

Roy was summoned by the market regulator SEBI yesterday to ascertain details of his personal and two company assets that could be sold to generate over Rs 24,000-crore worth funds required to be returned to the investors.

SEBI has charged Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd of "various illegalities" in raising these funds. — PTI

New Delhi, April 11
The Airports Authority of India (AAI) has made it clear that it would not allow Kingfisher Airlines to operate on 'cash and carry' basis till the grounded carrier cleared its dues amounting to almost Rs 400 crore.

In its revival plan submitted to aviation regulator DGCA yesterday, the cash-strapped airline is understood to have said that it has requested the AAI to allow them to fly on cash-and-carry basis, that is pay for the services as and when the airline avails of them.

AAI sources said Kingfisher could be allowed to operate on a cash-and-carry mode only after it clears Rs 390 crore dues to the state-run airports body.

Confirming this, AAI chairman VP Aggarwal said Kingfisher would have to clear its dues first before its request could be considered.

However, "We have not received any letter or any such request from them as yet", Aggarwal said.

Earlier, he had said the airline owed over Rs 390 crore, including penal interests, to the AAI.

After remaining grounded for over six months, Kingfisher yesterday sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights. — PTI